The Polish government hopes to encourage investors to step up hydrocarbons exploration and extraction with the new hydrocarbons bill sent to social and inter-ministerial consultations on Friday, Environment Minister Marcin Korolec said presenting the bill.

Contrary to earlier assumptions, the bill does not include tax regulations, which will be covered by a separate bill to be prepared by the Finance Ministry, Korolec said.

Among solutions aimed at increasing interest in exploration and extraction, Poland will replace the existing three types of licenses - for shallow exploration, deep exploration and extraction - with just one, the minister said. Exploration will require no license, while deep exploration and extraction will be covered by a single license.

Investors will also need no environmental permit for exploration drillings if they don't exceed 5,000 meters, he added.

All new licenses will be issued in a tender procedure, which will consist of three stages: qualification, tender itself and cooperation agreement signed with the national operator NOKE (whose share in the profits cannot exceed 5%), the bill stipulates.

Licenses will be issued for a period of at least 10 years but no longer than 30 years.

The law is to go into effect as of January 1, 2015.